safeguard metals lawsuit

SACRAMENTO - California Attorney General Rob Bonta today filed a motion to intervene in the Los Angeles City Attorney's lawsuit against S&W Atlas Iron & Metal Company (Atlas Metal) for endangering the health and safety of environmental justice communities in South Los Angeles.Over several years, Atlas Metal's operations are alleged to have been launching metal shards and projectiles into . According to the SEC's complaint, from December 2017 through at least July 2021, Safeguard and Santulan acted as investment advisers and persuaded investors to sell their existing securities, transfer the proceeds into self-directed Individual Retirement Accounts, and invest the proceeds into gold and silver coins by making false and misleading statements about the safety and liquidity of the investors' securities investments, Safeguard's business, and its compensation. Updated at 2:49 pm on February 2, 2022 Attorney General Todd Rokita today filed a lawsuit with 26 other states and a federal agency against Safeguard Metals, a business that schemed to trick elderly victims into investing in wildly overvalued precious metals. Below is information about these offers and simple ways to spot offers that could be scams. I recently got scammed by SafeguardMetals, a service that promised to provide precious metals investment opportunities. 06:39 PM. On February 1, 2022, the Securities and Exchange Commission (SEC) announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multimillion dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. Investors are advised to be particularly cautious when purchasing precious metals and to check for outrageously high commissions and markups, which weve seen as high as 30 to 70 percent, Idaho Department of Finance director Patricia R. Perkins. The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multimillion dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. The Roundup class action lawsuit alleged that Monsanto mislabeled certain products on the grounds that Roundup Weed & Grass Killer only targets fermented plants and not just humans or pets. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Help us improve the DFPI website! We represent investors in claims against negligent brokers and brokerage firms. City News Service is a regional wire service covering Los Angeles, Orange, Riverside and San Diego counties. 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According to the complaint, Safeguard obtained approximately $67 million from the sale of coins to more than 450 mostly elderly, retail investors, and kept approximately $25.5 million in mark ups. 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In fact, the silver coins were significantly less valuable than the defendants claimed, based on the resale prices the firm marketed and promoted. . The defendants are also accused of failing to disclose the markup charge to investors and the risk of losing most of their investment funds. The CFTC has issued several customer protection Fraud Advisories that provide the warning signs of fraud, including the Precious Metals Fraud Advisory, which alerts customers to precious metals fraud and lists simple ways to spot precious metals scams. Your email address will not be published. In fact, the silver coins were significantly less valuable than the defendants claimed, based on the resale prices the firm marketed and promoted. . The SEC is seeking permanent injunctions, disgorgement of allegedly ill-gotten gains, plus interest, and civil penalties. Necessary cookies are absolutely essential for the website to function properly. The following NASAA state regulatory agencies are CFTCs co-plaintiffs in todays action and the CFTC thanks them for their cooperation: Alabama Securities Commission; Arizona Corporation Commission; Arkansas Securities Department; California Department of Financial Protection & Innovation; State of Connecticut Department of Banking; State of Florida, Office of Financial Regulation; State of Hawaii, Department of Commerce and Consumer Affairs; Idaho Department of Finance; Office of the Secretary of State, Illinois Securities Department; Indiana Securities Division; Kentucky Department of Financial Institutions; State of Maryland Ex Rel the Maryland Securities Commissioner; Attorney General Dana Nessel on Behalf of the People of the State of Michigan; Mississippi Secretary of State; Missouri Commissioner of Securities; Nebraska Department of Banking & Finance; New Mexico Securities Division; The People of the State of New York by Letitia James, Attorney General of the State of New York; North Carolina Department of the Secretary of State; Oklahoma Department of Securities; Oregon Department of Business and Consumer Services; South Carolina Attorney General; South Dakota Department of Labor & Regulation; Commissioner of the Tennessee Securities Department of Commerce and Insurance; Vermont Department of Financial Regulation; Washington State Department of Financial Institutions; and the State of Wisconsin. 165 Broadway 23rd Floor New York City NY, 10006 *by appointment only. 2023 2 oz Silver Tudor Beasts Yale of Beaufort Coin. February 4, 2022 0 Attorney General Todd Rokita today filed a lawsuit with 26 other states and a federal agency against Safeguard Metals, a business that schemed to trick elderly victims into investing in wildly overvalued precious metals. Required fields are marked *. Save my name, email, and website in this browser for the next time I comment. The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multimillion dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. The Sonn Law Group is currently investigating allegations surrounding Safeguard Metals, LLC and Jeffrey Santulan. The DFPI encourages consumers who have experienced unfair, unlawful, deceptive, and abusive practices from a financial service provider to file a complaint with the Department online: https://dfpi.ca.gov/file-a-complaint/. The SEC's investigation was conducted by Jedediah B. Forkner and Jean M. Javorski of the SEC's Chicago Regional Office, and was supervised by Anne C. McKinley. How BBB Processes Complaints and Reviews. Safeguard Metals LLC and its director and owner, Jeffrey Santulan, also known as Jeffrey Hill, are accused of being involved in an ongoing scam to obtain approximately $68 million in funds from more than 450 people to fraudulently purchase metals at inflated prices and wholesale currency throughout the country at her office in Southern California. Tempe, Arizona. Additionally, Safeguard allegedly marketed itself as a full-service investment firm with offices in London, New York City, and Beverly Hills that employed prominent individuals in the securities industry and had $11 billion in assets under management. The complaint seeks a permanent injunction to stop the deceptive and fraudulent practices, disgorgement, full restitution, rescission, and civil monetary penalties. The SEC also alleged that Safeguard and Santulan represented 4% to 33% markups, but actually charged average markups of approximately 64% on its sale of silver coins. Breaking News Alert The lawsuit, filed by the U.S. Commodity Futures Trading Commission (CFTC) and a bipartisan coalition of 27 states, alleges that Safeguard Metals deceived nearly 450 investors nationwide by fraudulently soliciting nearly $68 million for precious metals and misrepresenting its exorbitant fees charged to investors. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. The Securities and Exchange Commission (SEC) has filed a civil enforcement action against the same defendants alleging violations of federal Securities Laws. A companys registration status can be found at NFA BASIC. Safeguard and Santulan reportedly used false and misleading statements about the safety and liquidity of the investments, Safeguards business practices, and its compensation structure. Are silver ETFs listed on any stock exchanges? Since precious metal prices keep fluctuating, we recommend that you contact Augusta Precious Metals now to find out the exact amounts you are required to pay. A favorable court ruling on behalf of a client who suffered losses in a leveraged precious metals investment scheme will proceed against the solicitor. Please keep your comments respectful and relevant. . Contact Us Now For a Free Consultation $25 MILLION Recovery Against National Brokerage Firm $9.1 MILLION FINRA Arbitration Award Against Brokerage Firm Well guide you through the process. Buckhead Tower, Suite 400 3399 Peachtree Rd. This website uses cookies to improve your experience while you navigate through the website. ON SALE. INVESTORS: The SEC charged Safeguard Metals, LLC and its owner Jeffrey Santulan for engaging in a multi-million dollar fraudulent scheme that reportedly targeted retirees. We represent investors in claims against negligent brokers and brokerage firms. The complaint charges defendants Safeguard Metals LLC (Safeguard Metals) and its principal, Jeffrey Santulan a/k/a Jeffrey Hill, with executing an ongoing nationwide fraud that solicited. The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multi-million dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. The complaint charges defendants Safeguard Metals LLC and its principal, Jeffrey Santulan a/k/a Jeffrey Hill with executing an ongoing nationwide fraud that solicited and received approximately $68 million in investor funds to purchase precious metals and fraudulently overpriced silver coins. Because Safeguard Metals charged exorbitant markups and severely inflated the price of the coins sold, customers allegedly suffered an immediate loss to their investments. "The federal securities laws prohibit deceptive conduct and material misrepresentations in the purchase or sale of securities," said Kathryn A. Pyszka, an Associate Director in the SECs Chicago Regional Office. This is one of many large-scale precious metals investment schemes weve endeavored to stop since the pandemic began. This business is in an industry that may require professional licensing, bonding or registration. In a simultaneous filing, the SEC commenced a suit against Safeguard Metals LLC and Jeffrey Santulan for violations arising from the fraudulent precious metals scheme and exorbitantly priced silver coins and for rendering unlawful investment advice. Read more Contact. In response to the complaint received from Ms. ****** ****, Safeguard Properties Management LLC ("Safeguard") is a property preservation company. Whistleblowers are eligible to receive between 10% and 30% of the monetary sanctions collected paid from the Customer Protection Fund financed through monetary sanctions paid to the CFTC by violators of the CEA. The SEC is seeking permanent injunctions, disgorgement of allegedly ill-gotten gains, plus prejudgment interest, and civil penalties. Safeguard Metals is a scam designed to take advantage of those not experienced in buying precious metals. The complaint charged Safeguard and Santulan with violations of the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. Brazen attempts to target senior citizens or other vulnerable populations will not be tolerated in California, DFPI Commissioner Clothilde Hewlett said. There are two types of toxic food lawsuits that parents most commonly face: negligence in manufacturing and negligence in creating instructions for use. As a matter of policy, BBB does not endorse any product, service or business. BBB Business Profiles are subject to change at any time. In reality, Santulan allegedly operated the company from a small leased space in a Woodland Hills, Calif. office building using sales agents. As the market continues to fluctuate, we anticipate more fraudsters using fear and uncertainty to manipulate good people out of their hard-earned money.. Idaho consumers invested approximately $1.3 million in the scheme. These are bullion coins made by the Royal Canadian Mint and contain metal . The SECs complaint alleged that between January 2017 and July 2021, Safeguard and Santulan acted as investment advisers and convinced investors to sell their existing securities, transfer the proceeds of hte sale into a self-directed Individual Retirement Account, and invest the proceeds into gold and silver coins. Contact the Idaho Department of Finance at [email protected]. Indiana Attorney General Todd Rokita's office says at least 16 Indiana residents are among the victims who were defrauded by Safeguard Metals. "We will take action when, as alleged, parties fraudulently induce investors to sell their securities through lies and deception.". BBB Business Profiles may not be reproduced for sales or promotional purposes. To check the status of this licensee, visit Financial Services and Mortgage Lending Licensees Search. A complaint was filed against the . It is mandatory to procure user consent prior to running these cookies on your website. I did not make it in time. for(i=0;i

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